Spacenet Enterprises India Limited Approves Q Results, Appoints New Chairperson and Additional Directors

Spacenet Enterprises India Limited Approves Q Results, Appoints New Chairperson and Additional Directors​

Spacenet Enterprises India Limited, during a Board meeting held on August 14, 2026, approved its Unaudited Standalone and Consolidated Financial Results for the quarter ending June 30, 2026. The Board also undertook several key governance decisions, including promoting an executive leader to the role of Chairperson and recommending new appointments to the board.

The company's management confirmed the financial results following review by the Audit Committee, noting the limited review reports issued by its statutory auditors, M/s. Gorantla & Co., Chartered Accountants, Hyderabad. Furthermore, the Board approved the Annual Report for the fiscal year ending March 31, 2026.

Governance and Leadership Appointments​

A significant governance update announced was the appointment of Mr. Dasigi Venkata Surya Prakash Rao as Chairperson of the Board of Directors and the Company. This appointment takes effect immediately, Aug 14, 2026. Mr. Rao, who currently serves as Executive Director and Chief Financial Officer, will continue holding both existing executive roles concurrently with the new designation as Chairperson.

In addition to this change, the Board also approved two critical director appointments:

• Additional Director: Mr. Srikanth Tatipaka was appointed as an Additional Director in the category of Non-Executive Director, effective August 14, 2026. His role is recommended for approval by the Members at the ensuing Annual General Meeting (AGM).
• Independent Director: The company approved a recommendation to the Members for the appointment of Mr. Prathipati Parthasarathi as a Non-Executive Independent Director. This proposal involves a fresh second term of five consecutive years, commencing from the date of Member approval via Special Resolution.

The details regarding these key personnel appointments are summarized below:

Fundraising Enablement and AGM Details​

The Board meeting also addressed the strategic future funding needs of Spacenet Enterprises India Limited. An enabling proposal was approved to raise funds up to an aggregate amount not exceeding Rs. 500 Crore in tranches through various permissible modes, subject to requisite statutory and member approvals.

The company's corporate agenda includes convening the 16th Annual General Meeting (AGM), which is scheduled for Tuesday, September 29, 2026, at 2:00 P.M. (IST) via Video Conferencing / Other Audio-Visual Means (VC/OAVM).

Mr. Desina Balarama Krishna was appointed as the Scrutinizer for remote e-voting and general e-voting for the upcoming AGM. Mr. Tatipaka, who is an Additional Director, has existing directorship at STRING FOREX PRIVATE LIMITED. Similarly, Mr. Parthasarathi's profile highlights extensive experience in Finance, Accountancy, Corporate Governance and business strategy.

SPCENET Stock Price Movement​

Spacenet Enterprises India Limited shares tumbled today, settling at ₹3.6 after slipping 4.72% in post-market trading. The stock traded on a volume of 1,033,448 shares during the day, with an intraday range spanning from a low of ₹3.58 to a high of ₹3.87.